Only madmen and banks do not discern the future of Bitcoin – thecointribune – Bitcoin 2020

The exponential rise of Bitcoin has subsided from its highest just below $ 20,000 in late 2017. This year, we touched $ 10,000 before plunging towards $ 5000 and then went back up around $ 7000.

These erratic fluctuations are explained by the fact that bitcoins currently only belong to a tiny fraction of the world’s population. Only 1,139 people own more than $ 10 million in BTC. 2.7% of Bitcoin addresses are home to 95% of Bitcoins… In a market that is not so homogeneous and liquid, the best strategy is still to calm down on leverage.

Hold your key… and keep in mind that it’s the lowest that matter, like a thermometer of the number of people who will no longer sell their Bitcoins.

This little introduction finished, let’s get to the heart of the matter: planets line up for Bitcoin. Hundreds of millions of people will lose their jobs and it’s a tragedy … But Bitcoin was built to appear like a beacon in the midst of the apocalypse of banked capitalism.

A recession worse than in 2008

We are going to experience the worst recession since 1945 … The government expects for 2020 to a budget deficit of 7% of GDP. What would it be if Macron hadn’t destroyed unemployment insurance last year …

GDP has already dropped 6% in the first quarter alone. To put it another way, the debt will jump in 2020 from 98% to 115% of GDP, at least …

The IMF 170 out of 189 countries expect their per capita income to contract. The WTO anticipates a 32% contraction in world trade. And according to the International Labor Organization, the crisis is expected to wipe out 6.7% of the world’s working hours in the second quarter. Sor 195 million full-time equivalents … Among them, 16 million Americans have already lost their jobs … unheard of.

According to OXFAM, this new spasm of the system could push half a billion people into poverty.

The longer the confinement, the more jobs will be destroyed forever. However, if we refer to the Spanish flu epidemic of 1918, COVID-19 could reappear in waves until 2022 …

Spring cleaning on Wall Street

Bankers and hedge fund managers jumped at the chance to clean up their portfolios. The Covid-19 has a good back, and rest assured that the world economy has been approaching resource limits anyway since 2008 (and the passage of the conventional oil spike). We were already on the brink before the Covid-19 patted us on the back.

Mark Carney, the mighty governor of the Bank of England warned last year:

“Businesses and industries that do not move towards zero carbon emissions will be sanctioned by investors and will go bankrupt. […] It is possible that the global transition necessary to cope with the climate crisis may lead to a brutal financial collapse.

Mark carney

Here we are… Larry Fink, the boss of BlackRock, the world’s largest investment fund, said nothing in his annual letter published in January:

In the near future – and sooner than most expect – there will be a significant reallocation of capital.

As a reminder, Artificial Intelligence Aladdin de BlackRock manages $ 18 trillion, or 7% of global financial assets (or 144 Bitcoins)…

BlackRock uses artificial intelligence to carry out its investments
Sophia, the AI ​​of Hanson Robotics

You are now in the secret of the gods. The Coronavirus is an unexpected opportunity to collapse certain industries without being accountable to the millions of people who will end up on the street. Replacing bankrupt companies that provided so many jobs will be very difficult and time-consuming work.

In short, faced with the collapse of the stock markets, the bankers will do what they can do best: print paper.

The billboard

The Bank of England, the oldest central bank, agreed, at the request of the Treasury, to directly finance state spending temporarily. A day to mark with a white stone. This paradigm shift means there is no more room for maneuver. We really need to be at the end of the road for private bankers to accept that the central bank finances the state directly and free of charge. The US government has even promised to pay $ 1,200 to each citizen. That’s to say if we’re entering a new world.

Governments have had 50 years cowardly surrendered their monetary sovereignty to independent central banks. 50 years that governments have been ransomed by paying interest to private banks. FINALLY England has decided to finance itself directly and free of charge from their central banks … Sacré Boris.

Pub

These usurious interests mean that the debt has turned into an exponential dynamic that only the setting to 0% of interest rates can stop. But that’s not enough, and the Fed has just announced $ 2.3 trillion in new loans.

The number of dollars in circulation is constantly increasing so that the value of the dollar is constantly sinking. See the value of the dollar expressed in gold:

The value of the dollar in gold has collapsed since the crisis of 1929
Dollar value in gold

Central banks print money in THOUSANDS of billions that Bitcoin will eventually swallow …

Halving

We are at the beginning of an economic depression that probably sounds like the agony of globalized and oil-addicted neoliberalism. The thousands of billions of debts thrown into the liquidity trap herald a slippage in inflation and the ruin of purchasing power, unless you diversify your savings into a currency that cannot be devalued ad infinitum …

Besides that, the third halving in the history of Bitcoin is fast approaching. For those who do not know, halving means that the number of Bitcoins created every 10 minutes is halved. It is a reward for miners that changes every 210,000 blocks (every 4 years).

The Bitcoin issue will be halved during the second halving

To put it another way, Bitcoin’s supply will be cut in half, which will drive up its price mechanically.

Be careful however because halving has been known for a long time, the market may have already included it in the price. Nor can it be excluded that speculators take pleasure in selling Bitcoin on D-Day. Market psychology being what it is, it is almost certain …

But whatever happens in the short term, Bitcoin will have in fine the wind in the back. Halving could even be enough to start a sustained uptrend if demand for Bitcoin continues – which should be the case given the current context.

Remember that gold tripled in value between the start of the 2008 and 2012 crisis …

From Charybdis to Scylla

Let’s end with what will constitute from afar the biggest upside for Bitcoin if we don’t have hyperinflation by then

Of Rio de Janeiro at Prague, we are confined and live only to go to work. Drones disperse the rallies. Our soldiers armed with sulphates (formidable against the Covid-19) patrol the city. We even install geolocation tools to track citizens. In China, companies that are developing facial recognition no longer hesitate to use the epidemic to justify the deployment of their hundreds of millions of (thermal) cameras. And Europe is not to be outdone … Denmark has just passed a law authorizing forced testing and vaccination for one year.

Always at Denmark, merchants are no longer forced to accept cash. One thing in common with Chinese dystopia since Beijing-style surveillance capitalism will soon be reinforced by the end of cash (cryptoyuan).

Of course, the tickets are accused of being a vector for transmitting the virus to prepare the society without cash. This is currently the number one priority of the banking mafia.

However, the end of cash will multiply the value of bitcoin several times. Why? Because those who refuse to tell Big Brother what they do with their money will turn to cryptocurrency. On the other hand, the underground economy, that which escapes the control of the banks and the tax, is far from being marginal. It represents 35% of GDP in Italy for example. We’re talking about the thousands of billions around the world who will have to find a new way to travel.

Who will pay the bill for his mistress in gold dust, his bottles of Cognac in emeralds or the neighbor’s nanny in Carambars? Who will risk starting his “social credit” with purchases not very Catholic she risks being deprived of liberties afterwards?

China notes its citizens and deprives those who do not fit the

Bitcoin has a bright future ahead of it, as long as the powerful continue their authoritarian mass surveillance agenda.

It would be too silly to relieve yourself of Bitcoins now. Notebooks are running at full speed all over the world against the backdrop of a crisis of capitalism. Bitcoin is insurance against the worst and, unfortunately, all the lights are green.

Chancellor on brink of second bailout for banks…

Only madmen and banks do not discern the future of Bitcoin – thecointribune – Bitcoin 2020
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